What you posted about using a NFT as a subscription is exactly what I don't get about NFTs - for digital things like a photo that can be used without actually holding the NFT, what's the value in scarcity other than the hope that someone will buy it later for more? And for something like a website subscription, the value comes from the centralized blogger hosting the website and writing new articles, so what's the advantage of the subscription being decentralized? I get the use of crypto for currency and stock type things, and I kiiiinda get NFTs for art speculation, but everything else seems about as easily done in a centralized way & with less hassle. Everyone here seems legitimately into them, so I'm sure I'm missing something fundamental about what the normie use cases are going to be, but I really don't see them
Start here. Edited for simplicity: What is the value of owning a baseball card, rather than a copy of a baseball card? What is the value of owning the Mona Lisa, rather than a print of the Mona Lisa? The fact that the terms of of service are set by the blogger, the access can be bought and sold by the blogger, and that everything between the blogger and his audience has been disintermediated. If you wanna be a bank, you sign onto SWIFT. You pay a $20k setup fee, you pay $1500 a month in licensing, you pay 3% per transaction. Or, according to the Comptroller of the Currency, you sign onto a public blockchain. Right now, staking on Ethereum - which means you're processing transactions and putting up an ante to guarantee your good behavior - pays 6%. I don't care what business you're in. When an operating expense becomes operating income, things are going to change.for digital things like a photo that can be used without actually holding the NFT, what's the value in scarcity other than the hope that someone will buy it later for more?
And for something like a website subscription, the value comes from the centralized blogger hosting the website and writing new articles, so what's the advantage of the subscription being decentralized?
I get the use of crypto for currency and stock type things, and I kiiiinda get NFTs for art speculation, but everything else seems about as easily done in a centralized way & with less hassle.